So the initiative could raised several million dollars–a total that will come out of Citi’s pocket rather than from its clients’. (The bank is at pains to stress this will not jack up its clients’ trading costs.)

For now, the currencies markets are taking the partial U.S. government shutdown in their stride. But a debt ceiling breach would, as Barclays writes Monday, be a “bigger risk event” that would “be broadly risk negative.”

“A higher risk of a U.S. sovereign default would lead to a flight to liquidity and, ironically, a stronger dollar, except against the most liquid and safest-haven currencies: the euro, yen, sterling, and Swiss franc,” Barclays added.

Now, by all means, be cynical of Citi’s efforts if you like. It’s certainly not the first or only bank engaged in philanthropy, the endeavor is good for public relations, and it gets people in the currencies business talking about the bank’s shiny trading kit. But there’s no upper limit on how much can be raised, and some of the charities are hard to argue with, such as No Greater Sacrifice–a charity that supports the education of children of U.S. service personnel who have been killed or wounded.

So if the wheels do come off the markets in the next few weeks, there’s one small silver lining at least.